Navy Federal Credit Union taps Oracle for cloud and account servicing tech overhaul
The largest credit union in the US will leverage four different Oracle solutions to boost automation and efficiency.
North America
ModernFi lands $18.7m Series A funding to boost deposit network expansion
The fintech last raised $4.5 million through a seed round in February 2023.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Grow Financial FCU taps NCR Atleos for ATM management
The Tampa-headquartered credit union claims to operate 70,000 surcharge-free ATMs across the US.
Former Sutton Bank exec Glenn Murray joins start-up Evolution 2100 as chief strategy officer
Evolution 2100 plans to provide a suite of financial services for underserved communities and businesses.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
US fintech Kashable raises $25.6m Series B funding
Californian venture capital firms Revolution Ventures and Moneta Ventures led the round.
Ally Financial sells POS financing business to Synchrony
Synchrony says the acquisition will also include $2.2 billion in loan receivables.
SME lender FundPark doubles credit facility with Goldman Sachs to $500m
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Digital Onboarding plans product and team expansion following $58m growth capital injection
The Boston-based engagement platform says it is looking to double its staff headcount by the end of the year.
DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
Synchrony hires former Santander exec Pierre Habis to lead consumer banking
Habis previously served as chief consumer banking and digital transformation officer at Santander.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
ICYMI fintech funding round-up: Prometeo, Zeal, Detected and Finbridge Global
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
Gigs appoints Adyen alumni Steven van Bommel as head of finance
The telecom-as-a-service platform has previously tapped talent from Nubank, Klarna and Revolut.
Danske Bank adopts Broadridge’s Tbricks for multi-asset trading and market making
Tbricks is the US-headquartered fintech’s principal trading and market making solution.
How fintech is expanding the borders of financial inclusion
FinTech Futures takes a look at FS firms that are catering to vulnerable people or people with disabilities.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Social media platform X aims to deliver P2P payments this year
The social media platform has obtained a money transmitter licence in 14 US states so far.
InvestCloud names Motive Partners’ Jeff Yabuki as new CEO and chairman
Yabuki also currently serves as chairman and founding partner of Motive Partners.
Real estate fintech start-up Downpayments launches in Florida with $32.8m in debt and equity funding
The start-up seeks to provide property investors with interest-free down payments on their next home purchase.
Redwood Capital Bank selects Apiture to power online and mobile banking
The bank will deploy Apiture’s digital platform to expand beyond branch and telephone-based banking.
Zimbabwe’s Success Microfinance Bank taps FinOS for core banking
The bank has partnered with FinOS to access its composable banking capabilities and increase operating ability.
WealthCo Asset Management taps Duco to automate manual data tasks
WealthCo says the Duco platform has helped it build “volume-agnostic” automated processes.
Bill Crager to step down as CEO of Envestnet
Crager is due to transition into the role of senior advisor upon his departure from the company’s leadership.
Credit union FirstOntario readies for Canada’s open banking push with Flinks and Everlink
The partnership is in anticipation of Canada’s 2025 rollout of open banking.
Specialist neobank Panacea Financial names Ryan Gorney as new CTO
Gorney joins the company from Seacoast Bank, where he served as EVP CTO and chief innovation officer.
